that they are decreasing. that is how high will interpret it. melissa: i am melissa frances. >> i am lori rothman. jpmorgan and wells fargo. the dow is up for the third down week in the last four. melissa: shocking claims that drug stores are releasing prescriptions and submitting claims to insurance companies without your approval. one publicly traded name is right in the cross hairs. >> numbers you can trade on? vote on? doesn't seem so with the latest jobs data. a lot of fuzzy math. we will get into that investigation. melissa: what's head to the floor of the stock exchange with lauren simonetti standing by. stocks really losing ground. >> we have down there as across the board moving lower rather than moving hire at the stock exchange. dow industrials are down five

days in a row and the nasdaq writing its longest losing streak since november of last year. banks reporting record profits with the banking sector and financials are down and one of the worst performing sectors. let's look at those record profits. wells fargo, profits rose, revenue missed expectation, shares are down. this year there of 20%. there has been a great year but wells fargo is the largest mortgage lender and i am having trouble making money because interest rates are so low. j. p. morgan -- jpmorgan a similar story. mortgage lending increased by 36%. jamie dimon thinks the housing market has turned the corner and even a comment like that don't have many homebuilders showing green arrows. melissa: we will break down

earnings with a lot of good information. melissa: oil on track for its first weekly gain in a month. tension in the middle east offset concerns about global demand. jeff flock live with the latest news. phil: i want to get the latest on that because that is something a lot of people are watching. oil with its first gain in months. where do you see it headed? >> oil will be tracked in this range. the reason for the game is the rising geopolitical risk. a lot of uncertainty with regard to syria and turkey. prices could start to accelerate a little higher offer of 95-96. jeff: is a driven by the weather? >> we have some weather

forecasts, the next 16 of 20 days will be unseasonably cooler as well as the inventory data. we are starting to see -- last week it was below expectations. they were expecting 72 and we only got 80. jeff: i have to ask about gasoline futures. trading anything with that? >> the big issue is we have refineries switching over to a winter blend so you have some supply coming off. demand remaining constant. it is a hot market at the moment. >> a lot of energy in the debate but the real energy is on the floor. melissa: no matter how many times you deny it, john henry can't shake talks that he is trying to unload the franchise. charlie gasparino has the latest. >> a sports reporter.

surprise you didn't make this segway about me and hot air. here's what we know about this. we are getting this from executives. i spoke to several of them over the last several days. what they are telling us is henry despite denial about selling the red sox i will tell you how i think he got out of it, he is interested in selling a minority stake partnership in the fenway sports groups. the overall holding company that controls the red sox, liverpool soccer team. the nascar team, sports marketing business and big money maker you never hear about, new england sports network, that is the driver. red sox are barely break-even. making a little more. might be losing money. john henry is also a finance year in the commodity business. not doing well. he is a rival baseball executive

and because of that, the red sox are break-even, the network does well but he has problems on the commodity side, henry is looking at least to consider unloading a state. henry denies this as well but the question becomes he is out right denying that wiry reporting it? we are hearing this from senior people that claim to know firsthand about his intentions and that is what they're telling us. will be doing? nobody knows. i can tell you you look at the performance of his investment -- charlie: if you look at the performance of the investment company and i wrote a full report on this on the fox business network, the investment company is worse than the red sox. melissa: what did you see? it is not publicly traded. the you get the investor letter? i don't know anything about it. i am not challenging just

curious. charlie: they publicly disclose returns. money-management -- i was out with those who run the coffin funds. he is having a good year but money is coming out of his funds. investors are bringing money from equity funds. he does a lot of commodity funds but his performance is not very good particularly based on benchmarks. this is on foxbusiness.com. you put that together with the fact that the red sox are not exactly doing anything. lori: continues total restructuring. charlie: i'm doubling as a sports reporter but i'm not a sports reporter. i have friends who own baseball

teams or work with major commission but that is as much as i know. he is ahead fund manager, john henry. they like running businesses that are financially stable and if you can sell a piece of it and offset the stuff you got in liverpool with the red sox and your investment portfolio, selling a minority stake is not a dumb thing to do. melissa: good report. fox business alert. there are big questions over prescription retail practices. medicare investigating reports the second-largest drugstore chain is refilling prescription than submitting insurance claims without patient approval. that according to the los angeles times sources. shares of cbs down on the news that the second-largest drugstore tells fox business directly that has not been contacted by federal

investigators. let's bring in the ceo of vital spring's technology. thank you for joining us. what do you make of this? they did reach a settlement for selling drugs at the wrong prices so there's a history here. >> there is a history with cvs on the medicaid side. as big as cvs is, there's always this concern that they have the ability to go out and be able to overturn without much oversight. this is worrisome if true with medicare beneficiaries who are getting charged for having prescription sort of bold out in charge by cvs to medicare but it really raises a bigger question about what has driven these companies to actually want to go out and do that. the obama administration has talked a lot about wanting to

get fraud out of the system as a means for obamacare so you have to wonder what the motivation is for companies to do this. cheryl: melissa: when looking at this situation, cvs refilling prescriptions you already had fills before you ask for it and charging it to the insurance company or medicare at that moment. is fast and unusual prospect? they say against company policy but does it have a lot? >> it is an unusual practice and you raise an important point in terms of the checks and balances that areot fully in place. there are a lot of areas just like the one you described where if they are trying to understand this whole issue of over charges, they have the fbi and h h s trying to do the sample audits for the prescriptions being filled.

that is not going to cut it. you can't go in and try to sample and hope you catch something. the reality is they have to get a lot more sophisticated if they are going to find out where these over charges come from. melissa: you have to wonder about the motivation. these think pharmacy benefits managers are fearing the dollars are going to dry up under obamacare? >> i really do. if you look at a couple things that have happened since obamacare has been implemented, insurance companies and benefits managers are clearly in a bind to take on more people to cover more people under their program and they are looking for every possible avenue to stay afloat. the other thing that has happened even more concerning is the idea that we were trying to drive more competition and bring prices down but you see the insurance companies that are

starting to consolidate, only three pharmacy benefits managers. when you look at the amount of market share they have there's not much competition preventing them from doing whatever they want. a lot of that is on the rebound of what happened with obamacare. an interesting discussion about the impact of medicare but here is a great example, doing $670 billion out of medicare by looking at fraud and abuse, this is the approach -- >> we do have a statement from the cvs spokesman who says our adherence to the programs require patient consent is refilled and we haven't been contacted regarding the investigation so they are denying this is going on. we want to get that in. contact them and ask for their

side of the story. lori: thank you very much. less of a mouth full. a great guest. time to get a crawl in los angeles going for 2 miles an hour. the space shuttle. can you imagine being in traffic and see that going down the side of the road? >> trying to bring it from lax to the museum. they're using side streets and based on costs. imagine that -- watching the space shuttle roll on by. how much lacoste and will it put a dent in their mountain of bills? take a look at medals as we head out to show you how bad is shaping up. we are lower across the board like the dow.

melissa: let's check the markets. lauren simonetti on the floor of the stock exchange. shares are getting hit pretty hard. >> shares are selling off right now basically warning about the third quarter saying revenue is 10% from the second quarter. everywhere they look in the pc industry it is not looking good. the chipmakers touching levels

it hasn't seen since 2009. earnings on the eighteenth of this month something we will be watching for but most industry insiders say pc sales will decline for the first time in a decade. back to you guys. lori: space shuttle endeavor embarking on a new mission to the suburban streets of los angeles. the shuttle left lax at 2:00 this morning making its way to the california science center. the shuttle will not arrive at the museum until tomorrow night. it is traveling 2 miles an hour. trees and traffic lights had to be removed throughout the city. streets had to be reinforced to accommodate the heavy weight of endeavour. at some point along its path it will come within inches of buildings. they opted not to put it on wide california freeways because the shuttle couldn't fit under the

bridges. . >> everyone watching, so cool. so much for the jpmorgan earnings party. bank quarterly results lowering estimates. flyer investors impressed? >> compared to trading partners, not by much. there you go. back with more after this. [ male announcer ] how do you make 70,000 trades a second... ♪ ...reach one customer at a time? whatever your business challenge, dell has the technology and services to help you solve it.

enough already. c'mon guys. next question. hello! what's your favorite color? what's my favorite color? yes. purple. what's your favorite animal? sea turtle. what's your bedtime? do you believe in space aliens? ...i love puppies. hash browns or home fries? home fries. do you like my dress? why can't you guys ask good questions like this? [ organ ] for a chance to interview an nfl player... join visa nfl fan offers and make your season epic. [ organ ] for a chance to interview an nfl player... those surprising little still make you te notice. there are a million reasons why. but your erectile dysfunction that could be a question of blood flow. cialis for daily use helps you be ready anytime the moment's right. you can be more confident in your ability be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity.

do not te cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood essure. do not dnk alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial.

>> 22 minutes past the hour your fox news minute. pakistani police have arrested a number of suspects in the case of a 14-year-old girl shot and seriously wounded by the taliban earlier this week for promoting education for women. the taliban say the girl was attacked because she was promoted, quote, western thinking. minnesota woman has filed what may be the first lawsuit over the meningitis outbreak linked to contaminated steroid shots. the suit claims she suffered

from headaches and nausea after receiving injections in her neck to ease chronic back pain. the number of meningitis cases has risen to 170, 14 people have died. jerry sandusky will keep $900,000 in state pension payments that he received after his 1999 retirement from penn state university. the retirement system says it cannot legally go after money paid before the date of a plea or conviction. u.s. sentenced to 30 years in prison for child sex abuse earlier this week. those are your news headlines. now back to lori and melissa. melissa: that is infuriating. thank you. we are back. j. p. morgan -- jpmorgan picking up earning season. they did not disappoint blowing past expectations. investors are not as of b. shares are down 2%. joining me for a closer look is the senior analyst of wells fargo. thank you for coming into the

studio. the subject of your comments dealing with earnings release, mortgage provides fuel so originations were up 29%, 8% in the second quarter. jpmorgan passed muster more than expectations. >> there were three reasons earnings were better than expected. you have a strong quarter for mortgage origination and that usually fuels' mortgage origination gains when they sell the mortgages. secondly the investment bank had a good quarter investment-banking fees, of trading quarter that was reasonably good particularly given the environment and we believe they had a pretty good quarter in terms of reining in operating expenses. melissa: let me get your take on reaction. jamie dimon says housing has turned a corner. the bank warned they could see i default related expenses for a while. can you comment if that is what

investors are reacting to? >> you brought of two separate issues. one was a charge related to a requirement from the regulators, related to bankruptcy loans with customer or borrower has gone into bankruptcy and regulators told the banks, jpmorgan included but not the only bank that they need to take a write-downs on those loans as a precautionary measure. overtime we think jpmorgan will earn most of those losses back through the income statement. melissa: i will cut you off for a time. i apologize. lowering the loan-loss provision is what helps make a meaningful boost in the quarter and what people are skeptical about. >> they released a billion dollars of reserves and $900 million in mortgage portfolio alone. that was 12% of pretax earnings. most banks we estimate have 20% to 25% pre-tax boost.

jpmorgan is higher quality than most of the other banks in our coverage universe. melissa: how does this figure in your outlook since the london whales trading debacle and profits were $5.71 billion compared to $5.8 billion? that was where we are with that. does it push it through even more? >> the company came out and said the losses related to the portfolio were roughly $200 million to $300 million. a lower number than we saw the first week to quarters of this year and the losses could be in that similar range in the fourth quarter and the company hopes to have it largely behind them by the start of the new year. there is still the board reviewed that is ongoing and requests to purchase more capital, more shares that is going to have to pass muster of the rate regulators. melissa: how does it look from

the investor's prospective? >> we have a performance rating on the stock for three reasons. we think the company will generate 20% earnings growth the next two years. secondly we think -- they generate currently higher returns on capital, roughly double the third group and in terms of valuation even though they are generating more profitability, share price multiples are not that much better than their peers. on a relative value basis, it is a good place to put your money. melissa: fully once a minute fool me twice shame on me. fool me three times and i don't know what. time to change the system. fuzzy math behind the latest jobs data and wall street is concerned. a lot of movers and shakers on wall street today. the s&p monster beveridge of

4.6%. dell computer up 3% and back today. back with more markets. don't go away.

melissa: time now for stocks. as we do every 15 minutes let's head to the floor the new york stock exchange. lauren simonetti is standing by. you're looking at some analyst moves today. >> yeah, the moves are good. the stock reaction is mixed. let's talk about wal-mart first. this is your best performing stock in the dow jones today. recently hit an all-time high. the news has been really good on wal-mart lately. now they're getting upgrade to buy at jeffries. also raising the price

target there to $88. jeffries sees product constant improvement at wal-mart. linkedin, many ways this is a discussion of the jobs market. if you're in hunt for a job you're likely on linkedin. that is why it is getting a pair of buy ratings. ever core is writing in newer software products and every growing market is a catalyst here. unfortunately the shares are down more than 2% right now but the commentary is good for linkedin. back to you. melissa: lauren, thank you so much. lori: she has been on the air since 3:00 this morning. she is amazing. just this year the labor department alone has one, not two, three high-profile problems with the jobs data. that is causing distress on wall street. liz macdonald is here with emac's bottom line. you get the report and go whatever at this point. >> here's the deal quickly the problems are sudden drop in the unemployment rate.

even before that revisions of the prior week jobless claims data, 83 out of 84 weeks now straight three consecutive revisions. that may be indicative of really bad recovery. we're seeing mystery state that had the supposed missing jobless claims data, california, out swinging yesterday, telling fox business which were breaking this story all day yesterday, peter barnes in the d.c. bureau. essentially saying we're not the mystery state. we've got breaking news on this for you. labor officials now telling fox business that we will release the name of this mystery state where this missing jobless claims data is. people still think it is california because of magnitude. next week, thank you. lori: not even fuzzy data. also the way the labor department is handling all of this. >> they're saying one thing and then saying another. let's get to wall street's confusion over this. more and more it is becoming a traders market, not investors market on news of

jobs data. dan greenhouse, we're not sure what to think. peter boockvar. throw out the number. try again next week when the other number comes out. bnp paribas is caution on government data on workers. poor quality there. jpmorgan chase dan silver, we think it was california. he still doesn't know. etf digest, watch what those guys say. early rally an incomplete info which became undone. wasted buying power. a lot of high level of noise wall street analysts are warning about in the jobs data. you will see gold selling off on positive news thinking the fed will pull back. it will roil the markets going forward until we get some more clearance. wall street again, there is confusion down there. if they're confused, watch out viewer. lori: elizabeth, thanks so much. >> sure. lori: i'm even more confused. melissa: our next guest called yesterday's labor department data completely worthless. stephen stanley, chief

economist at peer point securities and he joins us now. i find these surveys really frustrating because the methodology is so completely different. it isn't even a partisan matter. i studied economics in college. the way they gather data is so different and come out with so different answers. is there a better way to do this? >> this initial claims thing that came up yesterday was a one-off snafu. i'm not going to yell conspiracy theory on that. melissa: i'm in the even saying conspiracy theory. is there a better way to collect this data, household, the payroll, all the different sources that come in and are so different? >> i think the payroll survey is pretty good. they survey hundreds of thousands of businesses every month. and economists do pay the most attention to those payroll numbers. and i think for good reason. i think those are the most accurate and tend to have the least amount of noise. the other variables, initial claims come out every single week. it is tough to seasonally adjust weekly data.

of course the household survey, the survey the unemployment rate is derived from, is very small survey give the uns verse. talking about -- universe. almost 200 million people in the labor force and only survey 50 to 60,000 people. if a few people give the wrong answer for whatever reason it can really skew the data. lori: a few people giving the wrong answer. you had 873,000 in the household versus pay row just over 100,000. that is huge disconnect. you can't blame people or the media being totally skeptical for all the labor statistics. >> absolutely. the timing of this one introduced, is the data being manipulated in front of the election. i think that is a bit unfortunate. but what i think you're see something not totally out of the realm of possibility which is that the household survey does give you very volatile data from one month to the next. again, that is why economists, for the most part tend to focus mostly on the employment payroll data. lori: you like the payroll figure, steven.

you have private surveys, adp, challenger guy and christmas. there is so much information out there. as voters, taxpayers, as journalists what should we key into to make our determination on the health. labor market? >> different sure vice look at different things. if we think about the labor market there are two aspects to it, right? people who are losing their jobs and people who are getted hired. some of the data, initial jobless claims numbers, challenger layoff announcement numbers, look only specifically at the layoff piece of the equation and i think right now there is not a volatility in layoffs. we had so many people laid off during the downturn, businesses aren't laying a lot of people off. the action right now is on the hiring side. what we've seen in this recovery, is that there are times when businesses seem to get more enthusiastic about hiring people. other times it slows back off. melissa: let me ask you real quick before we go. if you just look at last friday's data, there were 759,000 people in the household survey that found

a job and didn't show up in the other survey being on payrolls. what do you think those 759,000 people are doing? >> i think it is just statis cool noise. the household measure of employment had fallen in the two months prior. i suspect it is probably going to fall again next month so it all smooths out in the end. over long periods of time the two work together. from one month to the next you get a lot of noise in the household survey. payroll survey tends to be more stable. that is the one to keep your eye on. lori: a lot of noise. a lot of noise. thanks. vp candidates battle it out in prime time but vice president's biden's big grin has everyone talking. he is i will. >>ing today. melissa: take a look at the 10-year and 30-year treasury as we head out to break there. you can see the yield there falling three basis points on the 10-year. we'll show you the 30-year. we'll be right back. [ male announcer ] the markets keep moving.

make sure the news keeps coming witthinkorswim by td ameritrade. use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days,

plus get up to $600 when you open an account. >> i'm cheryl casone with your fox business brief. consumer sentiment has jumped to a five-year high. university of michigan preliminary october reading unexpectedly rose to the highest level since 2007. americans say they are more optimistic about the u.s. economy. investors are bullish for diamond back energy on its wall street debut.

independent oil and gas company plans to use part of the ipo proceeds to repay debt. diamond back plans to use the remaining money for exploration and development and corporate purposes. beverly hills home once occupied by the late elvis presley and his wife priscilla is up for sale. the price for the four booed room estate, $12.9 million. it was sold for 150 grand back in 1973 when the couple divorced. latest from fox business, giving you the power to prosper

melissa: it was a war of words between vice president joe biden and gop hopeful paul ryan in their first and only debate. the candidates clashed over foreign policy, spending, taxes and everything else. for more on last night's debate, i'm joined by dan clifton, head of policy research at strategies

research partners. thanks for joining us. what was your take? >> first it is very hard to decide who the winner was of this election. melissa: of the debate you mean. >> i mean vice president biden was really targeting to try to get democrats more energized after last week's debate. melissa: yeah. >> on the other side paul ryan was showing if something could happen he united states. i think they both met their bar what they were trying to do but it was very different than last week where there was a clear winner, mitt romney beat barack obama. that is not the case in this. melissa: i felt watching it last night sort of each side was nodding along and saying my guy did a great job, my guy won. it seemed very sort of even across the board. do you think that is a fair assessment? >> well i do. and i think that is the way most debates go. last week was a very rare instance. melissa, i will say this, at the same time, we're starting to see what obama's strategy is going to be next week. that is, don't let mitt romney get his rythym. that is what vice president was trying to do. and he did it very

effectively. you're starting to see how they're adjusting to that defeat in the last week's debate. next week's debate should be very interesting. melissa: the vice-presidential debate doesn't really, it doesn't really do that much, right, unless, unless there's a knockout blow or unless somebody likes like they could not fulfill the role of president if a disaster were to happen, right? >> that is absolutely krebts. the thing about debates we may not know what the impact of that debate was this morning but over the next couple days, melissa we could see some of what they said come to life. for example, vice president biden was talking a lot about libya. that they didn't know there was a request for extra security. i think comments like that, if there is going to be something that proves there was a request for extra security, those are the types of moments where it could start making a big impact. i would also say this race is so close, that if somebody moves it just a little bit in one of these debates it could make a real difference at this point. that is why we have to watch them moving forward. melissa: do you feel like we learned anything about

anyone's policy last night at that was surprising or unusual? >> i would say this, vice president biden was very effective making sure we couldn't learn what paul ryan was going to say about policy. as we saw, paul ryan talking about his tax reform proposal, you saw the focus group knobs going higher. that is when he would interject and cut off paul ryan. melissa: interesting. >> very hard to learn about policy when you keep interrupting people and taking them off their stride. that was the biggest take away from last night. melissa: dan clifton, thank you so much. >> great, thank you. lori: quarter of as we do every 15 minutes, with lauren simonetti on the floor of the new york stock exchange. best buy looking to go up against its online rivals. how is that impacting shares? >> shares are down believe it or not. it is an awful year for best buy, down 25%. best buy is thinking of a showroom, they go in and test all the gadgets and leave empty-handed and buy the item somewhere else online. amazon.com for a little bit cheaper. now what best buy is doing

to challenge and counter that, offering price matching. even for online competitors. so now, when you leave best buy to sample that product. they actually close the deal and leave with one of their products. so that is what best buy is doing also. also for merchandise that is out of stock in their stores, especially in the popular holiday season, they're going to deliver it to you for free. best buy making some massive moves to get our holiday dollars. >> start making your shopping plans. thanks, lauren. melissa: from islands to sports could one billionaire make a move for one nfl team? dennis kneale joins us with the story. >> we're talking about oracle software tycoon, larry ellison. he is filthy rich but is he really happy? reports are ellison may be trying to make himself a little happier, maybe bringing back an nfl football team to home turf of los angeles which lost both the raiders and the raps way back in 1993. ellison may make a $10

billion bids for sports teams and venues owned by fellow billionaire, phil anschutz of denver. that includes l.a. lakers in nba. hockey's kings and performance venues including the staples center for l.a. that could provide a platform for bringing a franchise back to l.a. larry ellison has been having quite a run. he spent half a billion on a hawaii island of the his stock is up 20% since may. ellison worth $40 billion thanks to 35 years of blood, sweat, toil and tyranny at article. the software titan he founded. forbes said he was the top dollar gainer on the forbes 400 rich list this year. that island is really nice in hawaii. half a billion not so bad. key clue, oracle disclosed late last month ellison pledged $4 billion of oracle stock to secure personal debt. phil anschutz inherited a tiny oil driller in the '60s from his dad.

he went broke. rebuilt it. went into telecom and entertainment. to want 10 dal billion or better. others are interested. ellison has $4 billion of new credit burning a hole in his pocket. mole list is a. melissa: what else would you do with 4 dal billion. you don't need an island. maybe an nfl team. i don't know. he looks very good for 68. i heard other talent who will renameless talking about maybe recently had work done? >> he certainly can afford it. he loves malibu. every billionaire ought to have his own football team. melissa: right, absolutely. lori: the island. a football team. what is next? melissa: a giant diamond or diamond-studded plane. i'm not sure. dennis kneale. always fun. thank you so much. >> thank you. lori: that is small change. penny more for a stamp? no answer to the debt problem at the u.s. post office. melissa: that's the truth. take a look at some of the winners and losers today as we head out to break.

monster beverage, were talking about it earlier trading higher by almost 5%. dell having a great day, speaking of computers. up 3.3%. we'll be right back. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at youfingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. we don't let frequent heartburn come between us and what we love. so if you're one othem people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place!

[ male announcer ] e pill eachmorning. 24 hours. zero heartbur

lori: wells fargo and jpmorgan making headlines today but a slew of big banks are set to report next week. sandra smith has a closer look. our preview in today's trade. >> hey, guys. i want to give a quick update on jpmorgan shares. jp and wells fargo are reporting their earnings this morning. jp at the lows of the session down 1.5%. wells fargo shares down more than 2%. they are too at the lows of the session.

they beat on profit earnings per share but concern that the stocks really priced in good earnings that were expected here. that being said, next week, guys, we look to a handful of big financial names that we'll be reporting. charles schwab will be one of them. might as well-put up a year-to-date chart. looks similar to big financial names. obviously this is one of the largest discount brokers in the country t closed its trading wing in europe. remember, that should play a part in this year's earnings season. there is all that concern about the debt crisis and struggle over there weighing on earnings. 17 cents a share expected. stock up 15% this year. analysts don't really like it at this level. they consider it a little by the price sigh so -- pricey so watch that stock. what they do like, guys, citigroup heading into the opening bell on monday. this is a stock by the way that has been blowing away all its peers. it is up 0% year-to-date. they are up about 20, 25%.

62% of the analysts at citigroup say it is a buy heading into that earnings, guys. very optimistic earnings per share expected. 97 cents. but lori, melissa, stifel nicolaus just put out a note say they think all the euphoria over qe is really played out in these bank stocks and that's why they have soured on them. they are down across the board today. melissa: that's interesting. sandra smith, thanks so much. sending mail is about to get even more expensive but is one pen anymore -- penny more per letter will solve the post office financial problems? lori: it will irritate me. melissa: starting january, they will increase crease rates including one cent on first class mail. how will that do better, guys. come on. a penny will not help. nobody is sending regular mail. lori: i have to get a whole bunch of new stamps or buy the ones to add on. melissa: that's true. the postal service estimate

estimated to lose estimated, wait for $15 billion. $15 billion! issuing a new global forever stamp which allow customers to mail first class letters anywhere in the world for a set price of $1.10. that sounds like a good idea. i don't know how much money you have to make on that. i have to see the margin. for an agency that lost $5 billion in the second quarter of this year alone will this slight increase really do anything? they have toe reform the whole thing. lori: you've been pitching yourself to take over to privatize the post office. do you think this viable plan? melissa: no. i had the postmaster general on the other side on "money". i laid out my plan for him. lori: and he said? melissa: i feel he didn't take me seriously. i offered to be his intern. i can fix it. on "money" tonight we'll have author ann coulter on to discuss last night's

vice-presidential debate. i wonder who she will think won? lori: she will say biden was rude and interrupted. melissa: kind of rude. lori:. i'm sticking around. tracy byrnes is on vacation. lucky gal. melissa: lucky gal. you're lucky to be here with ashley. what do you mean she is lucky? lori: both of us. all three of us are lucky gals. stick around we have a lot more. we'll talk to douglas holtz-eakin on the budget deficit. he will give us some insight and analysis how it all works into the election next hour. friday trading session still underway. we'll see you in the next hour. keep it here on fox business.

[ le announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan,

insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of llars in out-of-pocket costs. call today to request a free decision guide to help you better understand what medicare is all about. and which aarp medicare supplement plan works best for you. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. there's a range of plans to choose from, too. and they all travel with you. anywhere in the country. join the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 andver for generations... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. call today.

remember, mecare supplement insurance helps cover somef what medicare doesn't pay -- expenses that could really add up. these kinds of plans uld save you up to thousands in out-of-pocket costs... you'll be able choose any doctor who accepts medicare patients. and you never need referrals. so don't wait. with all the good years ahead, look for the experience and commitment to go the distance with you. call now to request your fe decision guide. this easy-to-understand guide will answer some of your questions, and help you find the aarp medicare supplement plan that's right for you. lori: 2:00 p.m. eastern. i'm lori rothman. welcome back to markets now. ashley: i'm ashley webster. with two hours to close the markets set to close in the

red every day this week. nasdaq headed for its sixth straight loss. biggest streak in almost a year. lori: the white house about to make it official. the deficit topped one trillion dollars each year of the president obama's term. former cbo director douglas holtz-eakin weighs in ahead. ashley: defense secretary leon panetta says, the united states could face a quote, cyber pearl harbor. former cybersecurity chief howard schmidt will be along. he will tell us what the government should be doing to protect america. lori: that is it quite concerning. ashley: the banks can't seem to protect themselves. it will be interesting to speak to him. as we do every 15 minutes, let's head down to the floor of nyse, heading lower. >> ashley, essentially lower all week. we're going to close down for the week at this rate. let's look at the s&p 500 now. the level to watch is essentially right where we are, 1428. that is the 50-day moving average. if we close below that level

today which is entirely likely, that might signal more of a downturn and suggesting that this rally we've essentially seen all summer is over. so that is something that definitely worth discussing and looking at as we test this key support level. as for the tech-heavy nasdaq, it's been down for six days in a row now. like you said earlier, when you were introing the show, that would be the longest and worst losing streak since november of last year. so pretty bad week for stocks. i guess you can say, i don't know, run out of gas here on wall street? we're waiting for the election and everything else. but, we're in the red across the board. back to you guys. ashley: not by too much though, lauren. thank you very much. so far this year the labor department has had not one, not two, three profile problems with its, high-profile problems i should say with its jobs data. we're kind of like chinese days. what do you believe? that is leading wall street to question of course the reliability of the government numbers. liz macdonald is here with emac's bottom line. we are becoming china.

you can't believe anything they say these days. >> we had 83 out of 84 straight weekly jobless revisions, meaning prior week. we have questions over the unemployment rate. now we have the mystery state with the missing jobless claims data. california out late in the day saying it is not california reporting. we broke that news that there is dispute about that. also what we're seeing too is wall street confusion over the jobs data. and that matters because it is becoming more like again a trading market. traders are trading on this news and not an investor market. so dan greenhouse of btig we're not sure what to think. peter boockvar, military tabak says throw out the number. try again next week. caution on government data as pertains to government jobs. watch from bpt digest. early rally on incomplete information was undone. wasted buying power.

the bottom line is this. a lot of static, a lot of white noise in the recent data. use the four, monthly average. you want to do the four-week moving average. when you do that, when you load in the missing data, you're going to see still weekly jobless claims above the trend since 1967. here we've got the tale of two surveys too. we have got two stories from the government on job creation. you can see the swings there. ashley: yeah. >> and disparities there. again once you factor in, you will see it next week, labor department telling fox business we will name the mystery state next week. wall street expects it to be california. we don't know if it is california. again factor in the jobless claims, sticking around 370,000 again. that is above the four-week moving average since 1967. that is how you look at it on my bottom line. ashley: south dakota. >> iowa. who knows. ashley: who knows. lori: serious problem especially so close the

election. you don't have data you can chegg. ashley: that is why there is lack of trust out there. >> we shipment joke because you're absolutely right. lori: all right, let's move along now and talk about politics, federal budget deficit. we're about an hour away from the government releasing its latest numbers on the 2012 budget deficit with the congressional budget office expecting we learned last week to come over $1 trillion yet again. last night congressman paul ryan fired back at president obama's to cut the deficit in his first terrell. listen. >> remember when he said i promise by end of my first term i will cut the deficit in half in four years. we've had four budgets. 4, trillion dollar deficits a debt crisis is coming. we can't keep spending and borrowing like this. we can't keep spending money we don't have. lori: for reaction there is douglas holtz-eakin. he is president of american action forum. former director of the congressional budget office

himself. wonderful to see you again. i thought that was a strong appointment for paul ryan on the vice-presidentialal debate. what is your opinion on the how the budget issue was handled? >> key to the debate on point of view for mr. ryan to harken back to the president's record. the record is unpopular. the policies are unpopular. large amounts of spending and debt are among things that jump right out of the polls effectively. i think he do that very effectively. to make sure mr. biden wanted to make sure they are never explained the problem and it would be better in future. went about as planned. lori: to remind everybody. we're waiting for firm numbers from the treasury. we haven't gotten them yet. last week the cbo did tell us expect $1.1 trillion deficit which doug, was improvement from last year. which was 1.3 trillion. what is the splin politically? >> there is not much to spin

here. the budget gotten better because largely the economy improved somewhat compared to 2009. to argue this is good news story because the economy is doing well is tough place to end up. the real difficulty is going to be honest with the american people about the numbers and explain you can't close it all with taxes on high income americans. i thought that was handled well last night. for the administration they simply have to say, gee we inherited a bad situation. we promise we'll take care of it in the next four years. obviously they have the promise of first four years hanging over them. they're in a tough spot. lori: what do you think how voters general public, anyone in particular, this idea of romney's idea that the, not only the federal budget deficit but the national debt in and of itself a moral issue. are people buying into that? >> for a long, long time the conventional wisdom nobody changed their vote because of the budget deficit. but in the polling in 2010 we saw for the first time a

very important phenomenon. it was voters going to the polls and saying, you know, i changed my vote even against my congressman because there is too much spending, too much debt. among the most important things that they care about are the next generations. we saw it again in the polling after the supreme court decision on the affordable care act, so-called obamacare where people, when they heard how much spending was involved and how much would be burdened on the next generation, again that changed their view of the law itself. so we're seeing a sea change in american politics. there is no longer something that is safe. lori: can you explain to me more how governor romney's tax policy is deficit neutral? >> it is pretty straightforward. what he does is cut the rates 20% across the board. 35 down to 28 and below that. the question is how can you make it deficit neutral? one way to do it, how bowles-simpson did. they have the same rates that is deficit neutral. different way demonstrated by martin feldstein at

harvard got rid of deductions of higher income americans and he pointed out you can do that without burdening the middle class. harvey rosen of princeton university broaded base and depend on economic growth. again you don't have to burden the middle class. there are variety of demonstrations basic principle low rates and broad bases are better tax policy and will raise money necessary for the federal government. lori: one last question. >> sure. lori: who will win this presidential election? >> i think that governor romney is going to win but i will tell you it is very, very close. it will be very close to the end. this is not an election i see swinging in a strong way one way or the other, close to the finish line. it will be a tough battle. lori: douglas holtz-eakin. thank you so much. >> thank you. ashley: going to be interesting you know. obviously joe biden, vice president, came out swinging last night. was verying a grist sieve. i wonder how much of that will be translated into next tuesday's debate with the president who is being criticized. he himself admitted he was

lackluster at best. i wonder, there is fine line, isn't there, when you come out swinging and aggressive. if you cross it, you can turn people off. lori: one of the strategies was saying not let ryan to have a chance to explain his policies. a lot of people were left more confused on difficult positions, taxes spending overall policy. we know we will get into that much more. ashley: a lot of interruptions by mr. bidens that for sure. coming up, more on the vice-presidential debate. will it change the mind of voters? top strategists, doug schoen and nicole nikpour are coming up. lori: jeff flock is live for us in the cme next. meantime here is a look at oil as it is trading right now, down 51 cents, 91.99.

lori: work is getting in the way. nice to catch up. nice to do that. ashley: yeah. lori: great to be with you this hour. ashley: thank you. lori: tracy is on vacation. it has been a wild week for the commodities markets especially energy sector. oil on track for the first

weekly gain in four as tensions in the middle east offset concerns about global demands. jeff flock in the cme to sum it all up for us. hey, jeff. >> i will get to that, lori. but first, it is friday over here. maybe you see that on the screen over there. you know, i tell you, you think the fox business network sometimes is not prominent over here, but there you go. some young lady in the eyes of traders over here. i don't know what that means in terms of energy markets, but perhaps we find that out from scott shellady, if my lori can find me over there. craziness amongst the traders. it is friday afternoon. oil, you're doing a lot of oil trading right now. want to put the board up and three-month chart up because you're bullish. >> we are bullish. we had rhetoric from opec. we had rhetoric from the government. even though the economy is not doing well we have geopolitical issues will trump everything in the

short term. we're worried about enit shuns out there and volatility is telling us that. >> i not only want to put up oil but put up natural gas. if we look at that three-month chart we see that continuing to progress. here is my theory, whoever wins the election in four weeks will be a positive. do you not see it that way? you get clarity in the markets. >> clarity will help. we spoke about this as well. you can live your life on the far left or far right but you need to govern from the middle. the rest of the market would like to see somebody govern from the center because as businessman you can make a plan. the plans will mean volumes of business. we need somebody to govern from the center. >> scott shellady with always intelligent commentary. i'm in the ag room. we had a pullback on the ag. s because we had a run-up yesterday. market is pretty flat. maybe it will be for the next four weeks but then, then --. lori: there are screens i'm sure with your mug on as

well. you're handsome as well. >> there is a guy in the back with a little stick figure with my name on it. ashley: now we know what they mean by action in the pits of the cme. that is whole another story. as we do every 15 minutes go down to the floor of the new york stock exchange where lauren simonetti hopefully will get us out of this. >> let's talk about travel. this is one. smaller players in the travel industry. shares are down, hitting a 52-week low a little earlier down in the double digits right now. the company offering a downbeat third quarter view. said they need to beef up their hotel booking business. one way to do that would be to buy a hotel booking site. that is really tough to do. most of those sites are owned by some of the bigger players in the field, travel agencies, orbitz and expedia, et cetera. if you look at those companies today. they have got one thing in common. red arrows across the board. back to you.

ashley: indeed. lauren, thank you so much. we'll be back in 15 minutes. all right, jpmorgan and wells fargo posting better-than-expected profit thanks in part to higher mortgage lending. one analyst breaks down the best and worst signs in both reports. lori: here is how the dollar is faring against our trading partners. markets continue after this.

>> just about 20 one minutes past the hour. i'm arthel neville with your fox news minute. a chaotic scene in cairo united in anger and turned on one another over a court decision to acquit firms from the ousted mubarak regime. opponents of the new egyptian president mohammed morsi throwing rocks and bottles of each other. >> a woman filed the first lawsuit against the maker of a contaminated stared road used to treat back pain. it infected 14,000 patients treated with meningitis and caused at least 14 deaths. baltimore forced a fifth

and deciding game after last night's 13 inning, 2-1 win over the yankees. the washington nationals squeeze you had the out a victory with a game-winning homer in the bottom of the 9th to set up tonight's showdown. that are business headlines of fox business network. i got excited about my sports read i will work for espn right now. lori: you're so talented you could pull anything off. great stuff. ashley: he is spend would love you. move on to banks why don't we? shares of jpmorgan and wells fargo tumbling today. take a look as you can see both in the red. wells fargo down 3%. jpmorgan down 1 1/3. that is despite both banks reporting record profit thanks to gains in mortgage lending. here to break down the numb gers, numbers, paul miller, with fbr capital markets.

let's start with jpmorgan, a certainly strong headline number but as you look into this let's start with the positives. what do you like about jpmorgan's earnings? >> there is not a lot of negatives in jpmorgan's earnings. there are a lot of positives. they handily beat numbers and beat across the board pretty much on every line item. mortgage bank as you mentioned was very strong. the balance sheet was a little down. that is not a big concern. net interest margin, the margin they get from making loans was down only slightly four basis points. and they had very strong fixed income markets and investment banking markets. if jpmorgan released today, jpmorgan would be fine with rest of the space. it is wells fargo dragging the space down. wells fargo, in the interest margin, yield they get from lending out dropped 25 basis points that is what is weighing on the space today. ashley: what can you do in the low interest world, the incredible low interest world, those margins will always be impacted, won't they?

>> exactly right. as long as central banks of this world printing money like they are and which will cause the yield curve to remain flat as long-term yields are down you're going to have a lot of pressure on fundamentals of that niche. there is not a lot you can do. you don't want to take out too much duration risk, way too out on the curve. because you will be stuck with these mortgages. you have to kind of shrink your balance sheet and do best you can. the reason they're making record numbers especially wells because mortgage banking is working really well. everybody knows mortgage banking could be here today and gone tomorrow. don't think this will disappear next year. couple years out you don't have the mortgage banking revenue and have the low nim. that is what people are concerned about. >> wells fargo, one in three mortgages in the u.s. originate wells fargo. you would obviously like to see them diversify that revenue stream a little bit. >> they really do have a diversified revenue stream i believe. it's just, they will get more credit on that loan

portfolio then they will get from mortgage banking revenues. mortgage banking revenues are looked as volatile earnings stream. they would much rather see a portfolio. that will get them more of the credits. even though they made record profits what people don't like the mix of revenue is lesser quality. ashley: there are those, paul, that say the banks are boosting their profits because they're slashing reserves for bad loans. is that, is there a case for that? >> you know, not for these two institutions. they have very high reserve levels. so it is not a concern for these two at all. you know, jpmorgan i think released 900 million but they have well over 3% reserves. it is not a concern for these guys. when you start going back to the smaller entities the regionals. that is a concern. we've seen a lot of reserves released to boost earnings. that will probably go away in quarter or two. ashley: quickly, tin seconds citigroup monday. what are you expecting from citi? >> we don't really cover citi. i'm probably expecting the same as we saw today.

probably decent mortgage banking revenue. portfolio shrinking and pressure on the nim. ashley: very good, the nim. paul miller with fbr capital markets. the nim. net interest margin. >> so interesting because the mortgage interest rates are great for mortgage borrowers but paying back --. ashley: that's exactly right. bank profits, exactly. lori: interesting stuff. coming up i said i wouldn't say interesting this hour, but said it twice. cvs caremark reportedly under investigation for alleged insurance fraud. gerri willis has details for us next. ashley: first let's take a look at some of today's winners and losers as the dow kind of limping into the weekend down six points. carmax up nearly 5%. monster beverage, i could use one of those, up nearly 4 1/2%. we'll be right back. bob...

oh, hey alex. just pickg up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't rlize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.

[ male announcer ] fedex office. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more.

5 p l a times report the government is investigating cvs care march whether they refill prescriptions and charged insurance companies before customers approved the refill. gerri willis will have more. leon panetta says the united states is vulnerable to what he calls a cyber pearl harbor. the former white house security advisor will be weighing in on whether the government is doing enough to stop these hacker attacks. larry ellison on a mission to bring a football team to l a. dennis kneale on that story straight ahead. >> i spent a lot of time there.

and somebody else of the hawaiian island as well. so funny today. and to make a billionaire happy these days. let's get a check of the market as we do every 15 minutes. lauren simonetti is joined by a special guest. >> i will get into my alliance. since the dow turned positive. we are going to break a four day losing streak -- >> you just hit it. we are negative again. >> trying to be an optimistic four years and that is not working for you. >> the market is a tough place to work and they have doubled since 2009. whatever you have got, these distortions in the marketplace for other political -- it is not been the volume that we need to see. >> you are worried about the

industrials. all reporting they will be indicative of the global slowdown. >> caterpillar for one telegraphed what was going to happen a couple weeks ago. they have worn down and we are seeing them. alcoa's earnings, we did not expect them to be great but the real shocker was when they reported tuesday. commons makes tractor trailers and their orders were down 30% month-to-month and they talk about slowing china and slowing markets and they guided down the rest of the year into 2013. keep an eye on the industrials through this quarter. >> the fed can only help the markets so much. the summer rally might be officially over. ashley: questions are being raised about cvs caremark's prescription revolve practice. medicare is investigating reports the drugstore chain is selling prescriptions and insurance claims without patient

approval. gerri willis joins us. gerri: not the first time. $7.5 million to resolve similar allegations and the company itself is saying cvs, unauthorized refills are not condoned by the company but this is how we get to the all-important $80 billion number. the total amount of health care fraud in medicare and medicaid. at some point, it has an impact on the bottom line. what does it do to the share price? is down today and businesses baked in to there eps numbers and this is happening in a thorough way. when you consider it is two years in a row this has happened -- ashley: what did care march say? >> the unauthorized refills are not condoned by the company. that is their official statements. ashley: they are not saying -- trying to get my head around

that ambiguous -- >> last year they said they agreed to pay $7.5 million. and allegations that they did the same thing. it keeps cropping up over and over again. i don't know about you but when it comes to this fraud i am talking scanners. fraudulent doctors, people who are taking taxpayer dollars. this is an exchange listed company that is in trouble and that is what is astonishing about this. >> it is a sign that a lot of these pharmacies and pharmacy benefit managers are concerned about obamacare and their costs. [talking over each other] gerri: what is the motivation? ashley: money. follow the money trail they always say. gerri: we always do. ashley: you are -- what is tonight on the show? gerri: i'm doing the coolest thing on the debate from last night. i am picking apart joe biden's comments and showing you where he is misleading us when it comes to the debt and the

economy and tax policy to make you understand because it is easy to fudge these numbers. he did it last night and i will tell you how. ashley: the willis report tonight at 6:00, 9:00 eastern on fox business. numbers and figures being bandied about. a lot of information. gerri: they threw a lot at us. keep it here. tracy: a critical role in the debate, gop strategists and democratic strategist doug shoen weigh in on what changed for the race to the white house. ashley: as we do every day we take a look at the 10 and 30 year treasuries, down 1.6%. same story on the 30 year. two.83%. [ male announcer ] what if you had thermal night-vision goggles,

like in a special opsission? you'd spot movement, gather intelligenc with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account.

robert: i am robert gray with your fox business brief. wholesale inflation climbed more than expected in september driven higher by a soaring gasoline prices. the core price which excludes duke energy was unchanged from august below estimates. investors are not stocking up on a seers' spinoff. it is falling in its debut as a separate publicly traded entity. the national highway traffic safety administration is investigating honda's pilots suv

for break issue. the probe covers 88,000 pilots in the 2005 model year. investigators will determine if the problem is bad enough to recall the suvs. no crashes or injuries have been reported but the government and honda have received 205 complaints about the issue. that is the latest from fox business giving you the power to prosper.

ashley: taxes and libya, dominant themes in the presidential debate. who came out on top and what does it mean for the next presidential debate which is four days away? joining us is democratic strategist and fox news contributor doug shoen and republican strategists noel mcboard. clearly a better performance by joe biden than his boss mr.

obama. what did you like about his performance? >> i felt he was in command. was in control. his substantive answers were very solid. but i thought that his manner of speech, is interrupting, is laughing were inappropriate and off-putting. tracy: it didn't let paul ryan explain himself on policy. democratic strategist you had to like that. >> you try to be an analyst before you are strategist. as an analyst and american you find a little odd when somebody does what he did but you are exactly right. the premise of your question is right. we didn't really get a full dose of paul ryan and the dialogue has been changed suzhou biden from obama which is good for the democrats. ashley: i'm sure noel is stomping at the bit. did paul ryan keep the romney

momentum going following the first presidential debate? >> for sure. he handles the debate with class. he was a great debater. he presented his facts and stayed on key even though joe biden was giggling, basically chuckles the clown old-time and was very rude and condescending. the moderator did not help much either. i was not a fan of the moderator at all. tracy: what was the striking statement? what did we learn that could make a difference in the election? >> they each had something but the most important thing for this is i think that paul ryan's overall debate performance made him kind of seal the deal for the romney/ryan ticket. i don't think in actuality and people will be upset when i say this but i don't think this debate is going to determine in the polls -- i don't think

you're going to see a bump. i think it will go back to next week's debate when you have the presidential debate and what obama does and how romney performs. this was full of. it is fun to talk about but i don't think it will move one iota in the polls. ashley: you agree with that so let's move it forward to the presidential debate. we saw joe biden become a lot more aggressive. do you expect that from the president and is there a line he must cross that could really turn the focus? >> the president will get more aggressive and he is going to observe the line since it is a town hall debate with real people you can only go so far when you are with an audience and when your opponent is walking around. he is going to try to clarify the differences in a way that joe biden also did last night.

tracy: when clarifying differences you point out in your analysis how a lot of people say this election is just a statement on the belief system between the role you when your government to provide. are we zeroing in and having an understanding with each candidate is bringing to us? >> we're about to see what each candidate is bringing to the table. next week's debate will be do or die. obama better set -- step it up and do the performance of his life or mitt romney needs to do status quo and do what he did because the last couple weeks the romney people, a lot of people were hanging their head well like i don't know about this race. now i have seen more donors. i'm on a fund-raising end. i have seen more donors get out their checkbooks and support romney after that debate. this will help with fund-raising. that is the business side and also with votes.

very important. ashley: a day as a long time in politics. so much could happen between now and voting day but thank you so much. thank you for joining us. it will be interesting four days from now the second presidential debate. we will see a difference mr. obama. >> from island to sports, one billionaire making his move for an nfl team, dennis kneale joins us now. dennis: oracle software tycoon larry ellison may make a $10 billion bid for the sports teams and venues don't via fellow billionaire from denver and that could presage a move by alison to bring the nfl franchise back to l.a. which hasn't had a team since losing the raiders and the rams in 1995. he made his money and energy before cobbling together is entertainment group that had a stake in the l.a. lakers and the nba and soccer's fell a galaxy

and the hundred performance venues. larry ellison is 68 years old, looks much younger, made his fortune in software and had quite a run, worth $40 billion now. forbes said he was a top dollar gainer on the 400 rich list this year, stocks of 20% in five months and this year, he reported he paid half a billion dollars to buy an island in hawaii and last month oracle said he pledged $4 billion of his auricles stock to secure new personal debts probably for a deal just like this. you may ask what is with billionaires' and football teams. they are obsessed. football teams are prized possession in the billionaires' boys' club. going back and forth with another billionaire moment ago, when we return to the story next hour i will tell you some of the others who might be interested and teams that might go on the

block. tracy: you text with billionaires'? barry ellison collect hawaiian islands. would you collect? ashley: nice and which every day. and had a. that is about it. tracy: breaking news. oil is closed down $0.21 at $91.86. it is a quarter till. time for stocks as we do every 15 minutes. let's head to lauren simonetti on the floor of the stock exchange. the dow try to get back to the water mark. >> we're treading water on wall street. let's talk about a company making a huge splash, business offer company work day trading toddy a couple feet away from me at the stock exchange, largest tech ideas since facebook in may. stock is surging up 74% right now. priced better than expected at

$28 a share. really nice gain. let's look at some of the ideas that came yesterday to the market and if we take a look you can see we still have a arrows for many of these companies. just waiting for the board to change. you can see 3-1/4 doing well. good for day number 2. tracy: can the government do more to stop cyberattacks? howard schmidt weighs in with his view. >> today's winners and losers, big winners. one is one that loren told us about. what a monster day. 5%. be right back. everyone has goals.

take the steps to reach yours, with us with real advice, for real goals. the us bank wealth management advisor can help you. every step of the way. from big steps, to little steps. since 1863 we've helped guide our clients, so they can take the steps to help grow, preserve, and pass along their wealth. so their footsteps can help the next generation find their own path. all of us serving you. us bank

tracy: jpmorgan and wells fargo dominating headlines but other things to report next week and sandra smith has a closer look in today's trade. sandra: everyone expected them to the goods of bank stocks ran up in anticipation of that but there's a lot of concern about the government capping the size of banks and restricting their ability to be profitable and look at jpmorgan and wells fargo, they are down significantly after reporting stellar earnings. they were very profitable. they beat profits. wells fargo missed on the revenue side so investors are not liking that but now is the time to look forward and next

week we have more financial earnings. what and citigroup will kick things off on monday. this is one of the largest discount brokers in the country. they recently close their european trading when the. remember that when reporting results. they beat last quarter and reported steady profits quarter after quarter. $0.17 is the estimate but analysts don't like this stock. most of them had a hold rating of 15% this year. we were warned for the previous quarter's earnings but it is pretty pricey. citigroup is the one to focus on. the monday before the bell. a lot of optimism and analysts have been raising estimates going into this. $0.97 is the estimate and majority of analysts--despite the fact that it is 33% and crushing all of its peers. this is a huge one to watch the monday morning before the bell.

ashley: three banks falling victim to hackers this week and last night leon panetta said the recent cyberattacks against oil and gas companies are probably the most destructive of private-sector has seen to date. why are we so vulnerable to cyberattacks? joining me is howard schmidt, former cybersecurity coordinator of special assistant to president obama. thank you for joining us. talk about these tank attacks. a group claiming to have ties to radical muslims actually picks out banks before they launched this attack and seem to be successful. why is it banks even when warned ahead of time can't stop these attacks? >> there are two pieces of. things the bank can do to better protect themselves when they write the programs we interface with through the web, taking more care and making sure there's not vulnerability that can be exploited. the second piece it is out of

control of the banks, small businesses, universities whose computer system has effectively been compromise, take another and operated by remote control land use to launch attacks against financial services and banks. ashley: it has been a denial of service attack but everyone is concerned about access to your money and personal information and the belief that this could be a smokescreen so they can do just that. is that a valid concern? >> very much a valid concern and that is one of the things with identifying what the banks weren't potential targets and really focus a lot of resources towards trying to stop that and deal with that. in the meantime like anything else if you do the diversion and other assets are uncovered and that is the concern about it many of us, just a diversion. trying to steal credit card information and get personal information and hack into accounts for longer-term stripping of money out of

people's accounts. ashley: to defend commercial networks, this is an attack on national banks. that what point does the government step in and can it? >> the government has been doing a lot. there are walls in place that prohibit what can and cannot be done but for the most part the government can help out in a few areas, sharing information about technical controls, technical vulnerability, remediator and. things that can help people be stronger. this was different because it was telegraphed. the government through law enforcement and intelligence has information they can share with the private sector. i propose legislation that is not going anywhere. there is discussion at the white house about creating an executive order to make it available but there's a lot they are doing and it will continue to be enhanced. ashley: we have 15 seconds. leon panetta says these are the warnings we received similar to free 9/11 and could lead to

catastrophe. would you agree with him? >> i agree we have potential for catastrophic outages whatever sector might be including financial services which is why we have to reduce vulnerability is now. ashley: we have been warned. thank you for joining us. appreciate it. tracy: up next liz claman takes us through the last hour of trading with the chairman and ceo of area pharmaceuticals. stocks up 97% year to date. find out what they are and the promise they hold for patients and investors. count down to the closing bell is next.

liz: i am liz claman and this